Onsemi (NASDAQ:ON) Position Reduced by Swiss National Bank

Swiss National Bank trimmed its holdings in Onsemi (NASDAQ:ON) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,210,100 shares of the semiconductor company’s stock after selling 66,900 shares during the quarter. Swiss National Bank owned 0.28% of Onsemi worth $76,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bridgewater Associates LP grew its position in Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after acquiring an additional 1,109,778 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares during the period. Andra AP fonden grew its holdings in shares of Onsemi by 2,388.4% during the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock worth $21,651,000 after purchasing an additional 329,600 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Onsemi by 19.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after buying an additional 326,734 shares during the period. Finally, Geode Capital Management LLC increased its stake in Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Onsemi Stock Performance

ON stock opened at $43.19 on Friday. The stock’s fifty day moving average price is $51.59 and its 200-day moving average price is $63.20. Onsemi has a 1 year low of $41.59 and a 1 year high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The company has a market cap of $18.20 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 16.74 and a beta of 1.59.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, equities analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ON. Roth Capital set a $60.00 target price on Onsemi in a research report on Friday, March 7th. Morgan Stanley reduced their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 11th. Rosenblatt Securities reissued a “neutral” rating and set a $49.00 target price on shares of Onsemi in a research note on Thursday, February 27th. Wells Fargo & Company cut their price target on Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group reduced their target price on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.85.

About Onsemi

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.